BEIJING, June 14 (ABC): China accounted for 30 percent of the global manufacturing output in 2021, marking an increase from 22.5 percent in 2012 as the industry grew bigger and stronger, data from the industry regulator showed Tuesday.
The manufacturing value-added output had expanded from 16.98 trillion yuan (about 2.5 trillion U.S. dollars) in 2012 to 31.4 trillion yuan in 2021, Xin Guobin, vice minister of industry and information technology, told a press conference.
Although the geopolitical conflicts and COVID-19 resurgence have added downward pressure on the industrial economy, the impacts would be temporary, Xin noted.
From a long-term perspective, the fundamentals of China’s complete and resilient manufacturing system have not changed.
With continuous support policies, the industrial economy is expected to return to the normal track as soon as possible,” the vice minister said.